Rise Above Accounting

https://ncidea.org/press-release/nc-idea-receives-historic-10-million-in-funding-from-the-golden-leaf-foundation-to-strengthen-rural-entrepreneurship-across-north-carolina/

NC IDEA Receives Historic $10 Million in Funding from the Golden LEAF Foundation to Strengthen Rural Entrepreneurship Across North Carolina - NC IDEA The Rural Entrepreneurship Regional Constellations Program Will Directly Fund Rural Regions and the Entrepreneurs Building Their Economies DURHAM, NC — August 6, 2026 — NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, anno...

IRS Updates Standard Mileage Rates Effective July 1

The IRS has announced revised standard mileage rates for the second half of 2026 in response to recent increases in fuel prices. Under Announcement 2026-11, the business mileage rate increases to 76 cents per mile from 72.5 cents. The rate for medical and moving expenses increases to 23.5 cents per mile, while the rate for charitable miles remains unchanged at 14 cents per mile. The updated rates apply to deductible transportation expenses paid or incurred on or after July 1, 2026. The revised rates also apply to mileage allowances paid to employees on or after July 1, 2026, for transportation expenses incurred on or after that date.

Note for expenses incurred before July 1, 2026, the mileage rates established in IRS Notice 2026-10 remain in effect.

The IRS announced a new online tool to help clients understand and resolve tax debt.

The Tax Debt Help tool provides individuals and businesses with a simple way to explore payment options and identify next steps based on their situation. It walks users through a series of straightforward questions about their financial situation and tax debt. Based on responses, the tool will guide users to potential payment and resolution options available through the IRS.

The tool does not require specialized knowledge. It can be used at any time. To protect client privacy, the tool does not require users to enter personally identifiable information.

https://outlook.office.com/mail/inbox/id/AAQkAGMyODQ0ZDI1LTgzMDAtNGEyYi05MjFhLWYzMDc1N2ZjZGYyOQAQAGXeUN3oO8FAhXTZDTS9TbU%3D?nativeVersion=1.2026.420.300